Actual cash value property insurance
[DOCX File]DESCRIPTION
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The total amount of insurance after application of any deductibles shall be not less than eighty per cent of the actual cash value of the insured property at the time the insurance is purchased and at each renewal date, exclusive of land, excavations, foundations and other …
Property Insurance Valuation | Bankers Insurance
Covered property losses shall be settled at actual cash value at the time of loss but shall not be settled at more than the amount required to repair or replace. All other provisions of this policy apply.
Total Loss Endorsement (Revision 200211)
B. Ineligible Property. Property listed below is not eligible for replacement cost loss settlement. Any loss will be settled at actual cash value at the time of loss but not more than the amount required to repair or replace. 1. Antiques, fine arts, paintings and similar articles of rarity or antiquity which cannot be replaced. 2.
[DOC File]ACTUAL CASH VALUE LOSS SETTLEMENT
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Insurance companies commonly use two approaches to determine value, which also determines how a loss will be paid; the replacement cost method and the actual cash value method. Insurers consider replacement cost of a property item to be the cost to replace it with new property of like kind.
[DOCX File]33-1253; Insurance
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Homeowners Actual Cash Value. Use of the Actual Cash Value Loss Settlement endorsement, HO 04 81, for an additional premium, allows for the property to be written at less than 80% of the estimated replacement cost of the building.
[DOC File]4350 - HUD
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ACTUAL CASH VALUE basis - with deduction for actual physical depreciation only (Book or Market values are not appropriate); OR. REPLACEMENT COST basis - without any deduction for depreciation. (d) The values appraisal for property mentioned in Columns 2 and 3 (Buildings, Machinery, etc.) was made (date) by: (e) The values in Column 4 “Stock
[DOC File]Use of the Functional Replacement Cost Loss Settlement ...
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The value of covered property, subject to the coinsurance condition, if applicable, will be the least of the following amounts: 1. The actual cash value of that property; 2. The cost of reasonably restoring that property to its condition immediately before loss or damage (Loss); or . 3.
[DOC File]Commercial Property Insurance Outline
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actual cash value of an insured property. Because. replacement costs for a building increase over time, ... "Property Insurance Schedule," provides the mortgagee. the insurable values and a description of the. property which must be insured by the mortgagor. and Form FHA-2447, "Property Insurance Requirements," ...
[DOC File]STATEMENT OF VALUES - The Guarantee
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If property is not replaced within a reasonable period of time, then the actual cash value (ACV) applies. On improvements and betterments replacement cost at the time of loss without deduction for depreciation. If property is not replaced within a reasonable period of …
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